11-09-2013 03:01 PM
News Detail – Hornbach Baumarkt AG

HORNBACH-Baumarkt-Aktiengesellschaft: Kingfisher director withdraws from HORNBACH Supervisory Board

HORNBACH-Baumarkt-Aktiengesellschaft / Key word(s): Change of Personnel
11.09.2013 17:01

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP – a company of EQS Group AG.
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Kingfisher director withdraws from HORNBACH Supervisory Board
Bornheim bei Landau, September 11, 2013.
The director nominated by the British retail group Kingfisher plc, London, has resigned from the Supervisory Board of HORNBACH-Baumarkt-AG. John Declerck, Group Strategy Director, Kingfisher plc, will thus retire from the supervisory body as of September 11, 2013. Kingfisher’s representatives on the Supervisory Body of the parent company HORNBACH HOLDING AG, Kevin O’Byrne (Kingfisher Divisional CEO, B&Q) and David Paramor (Finance and Planning Director, Kingfisher plc), will also retire from their positions at the same time.

The reason given was that this precautionary measure would avoid any potential conflicts of interest resulting the director’s involvement in the the companies’ respective expansion strategies. Since its takeover of 15 Bricostore DIY stores in Romania in May 2013, Kingfisher has been in direct competition with its German cooperation partner for the first time since the strategic alliance with HORNBACH began in December 2001. As announced by Kingfisher upon the publication of its interim results on September 11, 2013, the British company is planning its own market launch in Germany in summer 2014, in this case with four trial ‘Screwfix’ stores, a small-scale specialist retail format aimed at professional customers.

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Language:     English
Company: HORNBACH-Baumarkt-Aktiengesellschaft               Hornbachstraße
              76878 Bornheim bei Landau/Pfalz
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ISIN:         DE0006084403
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